Advance Tax Calculator

( As amended upto Finance (No.2) Act, 2019 )

About

As the name suggests, Advance tax refers to paying a part of income taxes before the end of the financial year.As per Sec.208 of Income Tax Act1961, Advance tax is payable if income tax liability is more than Rs.10,000 in a financial year. This Calculator enables estimation of Advance Tax instalments on the basis of taxable income of a Partnership Firm/LLP.

Tax Payer

Financial Year

Assessment Year

Are you eligible for presumptive taxation scheme ?

Applicable Presumptive Taxation Section

(a) Turnover or Receipts in Cash

(b) Turnover or Receipts otherthan in Cash

Gross Turnover or Gross Receipts (Max less than 2crores)

Minimum Presumptive Income

Actual estimated income

Taxable Income

Total Gross receipts from Profession (Max less than 50Lakhs)

Minimum Presumptive income

Actual estimated income

Taxable Income

Total number of Vehicles owned (Max.10)

No. of Heavy goods vehicles (Gross vehicle weight >12 tons) owned

No. of other than heavy goods vehicles owned

Presumptive income from vehicles owned

Actual estimated income

Taxable Income

Income from Heavy goods vehicles owned

Vehicle No (a)

Owned for months or part of month (b)

Gross vehicle weight (or) unladen weight (in tons) ( c )

Presumptive income from vehicle (D=b*c*1000)

1

2

3

4

5

6

7

8

9

10

TOTAL

Income from other than Heavy goods vehicles owned

Vehicle No (a)

Owned for months or part of month (b)

Presumptive income from vehicle (C=b*7500)

1

2

3

4

5

6

7

8

9

10

TOTAL

GRAND TOTAL

Estimated Net Taxable Income

Income Tax

Surcharge

Health and Educationcess

Total Tax Liability

Relief(If any)

TDS/TCS/MAT (AMT) Credit (If any)

Assessed Tax

Advance Tax Installment No

Advance Tax paid in previous installments of this yr

Advance Tax Liability for the Installment selected

Due date of Installment

Advisory:
Information relates to the law prevailing in the year of publication/ as indicated . Viewers are advised to ascertain the correct position/prevailing law before relying upon any document.

Disclaimer:
The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc